National auto loan rates for Oct. 20, 2011

Interest Rate Roundup
Auto loan rate graph
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Auto Loans

  • 5.33% (60-month, new car)
  • 6.39% (36-month, used car)

Auto loan rates rebounded this week, bouncing off last week's record lows.

The average 48-month new-car loan rate rose 2 basis points to 5.31 percent. The rate for a 60-month new-car loan gained 1 basis point to 5.33 percent. A basis point is one-hundredth of 1 percentage point.

The average rate for a 36-month used-car loan jumped 10 basis points to 6.39 percent.

Automotive News has reported that the United Auto Workers ratified a contract with Ford. The new deal spans four years and will create 12,000 new jobs.




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